Travers Mechanical Services introduces Pueblo into its fourth U.S. state and adds a new market for expansion.
DETROIT, June 30, 2022--(BUSINESS WIRE)--Leading middle-market private equity firm Huron Capital Partners ("Huron Capital") announced today that its HVAC and plumbing installation, retrofit and repair services platform, Pueblo Mechanical & Controls ("Pueblo"), has acquired Travers Mechanical Services ("Travers").
Travers is based in Albuquerque, New Mexico, and provides HVAC and plumbing services, including maintenance, repair, and installation work with a team of approximately 40. Mike Travers Jr., President, and Mike Youngman, Vice President of Operations, will remain with the business and maintain their leadership roles. Travers was founded in 2006 by Mike Travers Sr. and Mike Travers Jr.
"The addition of the Travers team is the latest move to ramp our services up in new markets and we’re thrilled to welcome them to the Pueblo family," said Dan Bueschel, CEO of Pueblo. "Accelerating Pueblo’s M&A strategy in the last year has given us access to new markets that fit squarely in the company’s target demographics for growth and we’re looking forward to continuing our expansion in New Mexico."
The acquisition of Travers is Pueblo’s seventh add-on acquisition in the last 10 months and the 13th overall for the company. Huron Capital acquired Pueblo with Bueschel in 2017 and have since executed an ExecFactor® buy-and-build strategy in the commercial HVAC and plumbing market across the Sun Belt and Rocky Mountain regions of the United States. ExecFactor® is Huron’s proprietary, thematic investment strategy where the firm underwrites an industry and partner with an executive to deploy our buy-and-build investment model.
"The last 12 months have given us an opportunity to accelerate growth organically and through M&A and we’re proud of the tremendous progress that Dan and Pueblo have made," said Huron Capital Partner, Scott Hauncher. "Identifying opportunities like Travers and being able to access new markets is a core component of our growth strategy for Pueblo and we’re excited to work with Mike and Mike to grow the business."
About Huron Capital
Founded in Detroit in 1999, Huron Capital is an operationally focused private equity platform with a long history of growing middle market companies through our proprietary ExecFactor® buy-and-build investment model. We prefer complex situations where we can help companies reach their full potential by combining our operational approach, substantial capital base, and transaction experience with seasoned operating executives. An early pioneer of the buy-and-build approach, Huron Capital has successfully established six private equity funds aggregating nearly $2.0 billion in committed capital and invested in over 250 companies, and our portfolio companies have employed over 11,000 people throughout North America. The Huron Capital buy-and-build investment model includes equity recapitalizations, family succession transactions, market-entry strategies, corporate carve-outs, and management buyouts of companies having revenues up to $200 million. Huron Capital invests control equity in fundamentally-sound companies that can benefit from the firm’s operational approach to creating value. Huron Capital focuses on niche segments within commercial & industrial services, professional services and the consumer services sectors. For more information, please visit: www.huroncapital.com.
About Pueblo Mechanical & Controls
Pueblo Mechanical & Controls performs a broad offering of HVAC and plumbing maintenance, replacement, retrofit, repair, and installation services for commercial facilities, school districts, governmental agencies, and municipalities throughout the southwest and Rocky Mountain regions. The company was founded in 2001 with a focus on delivering the highest-quality execution and customer service. Pueblo has an over 20-year history of consistently performing work while demonstrating honesty, dedication, and integrity, resulting in strong, long-lasting customer relationships. For more information, please visit: www.pueblo-mechanical.com.
Certain information herein may contain forward-looking statements which are provided to assist the reader in understanding the beliefs and opinions with respect to future opportunities as perceived by Huron Capital and others quoted herein. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance in future periods to differ materially from any projections or results expressed or implied by such forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The issuer of these statements undertakes no obligation to update forward-looking statements if circumstances or estimates or opinions should change except as may be required by applicable securities laws.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220630005727/en/
Jonathan Marino, Vice President